How much can I claim for the earned income credit?

For the 2006 tax year, your earned income credit can be up to $412 if you have no qualifying children (an increase from $399 in 2005), up to $2,747 if you have one qualifying child (an increase from $2,662 in 2005), and up to $4,536 if you have more than one qualifying child (an increase from $4,400 in 2005). To determine precisely what amount you can claim as your earned income credit, you should review the tables included in your tax form instructions.

Keep in mind that there is also a phaseout that applies to the earned income credit.